BTW, besides paying low taxes Romney pays not SS or Medicare taxes

[rurallib]

So he really is not even coming close to his fair share.

Wonder if he will apply for SS when he is eligible?

[Liberal_Stalwart71]

1. Of course he will. Republican hypocrisy knows no bounds!!

[kctim]

2. Why doesn't he pay those?

[rurallib]

6. my understanding is that those are not assessed on dividends

and the interest he gets.
Maybe I am incorrect. If so I apologize.

[kctim]

9. Ah, I thought you meant he didn't pay for those

on his income like everybody else does.

[Honeycombe8]

3. I thought everyone had to pay SS & Medicare taxes.

Even if you're self-employed, you have to pay that to the govt...up to a point. You only pay it for income up to $100K or something, I think.

[Sarah Ibarruri]

4. Oh of course! I don't know one millionaire that doesn't. nt

[former9thward]

5. Anyone who does not pay those taxes would never be eligible for SS/Medicare.

The taxes you pay is what determines eligibility, not age. I suspect Romney does pay the maximum tax on SS because his speaking fees are income and are well above the 100k maximum cutoff.

[yellowcanine]

7. He should be paying both SS and Medicare taxes on his speaking fees.

How are speaking fees not earned income? He should be paying the self employment rate.

[MGKrebs]

8. So you have a problem with the tax code.

Romney is no idiot. Of course he is taking advantage of the tax code as written. The real story is that he would pay even less if he gets to enact the tax plan he wants:

http://www.washingtonpost.com/blogs/plum-line/post/romneys-tax-plan-would-cut-his-own-taxes-by-nearly-half-new-analysis-finds/2012/01/18/gIQAHruH8P_blog.html